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Meg Munn MP - Sheffield Heeley's voice in Parliament | Welcome
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Corporate gender pay gap getting wider

Wednesday, August 21, 2013

The Chartered Management Institute (CMI) have published data which reveals that on average bonuses given to male managers are double those of their female counterparts this is on top of an average basic salary of around 25% more. The data also notes that at more senior levels, the pay gap for basic pay and bonuses, increases.


In response to the findings, the Chartered Management Institute has outlined three key recommendations for businesses to:


         measure and report on equality,


         extend flexible working for men and women, and


         provide sponsoring, development and mentoring for talented women.


 


Commenting on the report Meg said:


“I find it staggering that the corporate gender pay gap appears to be getting wider rather than narrowing. There is no excuse as to why men are still earning more than women when they are in very similar jobs.


But this is about much more than a pay gap. The data illustrate how our culture undervalues women and deems it acceptable to treat women as less important than men. For example, in the United Kingdom women make up just 17% of company boards and only 23% of our MPs are women.


This is situation is not acceptable when we have clear evidence that diversity delivers better results. The data reminds us that in many respects we are still stuck in the dark ages. Implementation of the CMI recommendations will help us go some way in tackling this much needed cultural change.”


The Chartered Management Institute data can be viewed at:


http://www.managers.org.uk/news/battle-bonuses?utm_source=dlvr.it&utm_medium=twitter


 


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